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Bitcoin whale’s $137m splash fails to lift crypto



A Bitcoin whale has parted with $137 million to increase the digital asset’s holdings.

A whale is an individual or entity with large amount of Bitcoin.

However, the whale behind this huge investment is unknown.

Ripples Nigeria gathered that the whale has been buying the asset since Bitcoin hit the all-time high of $68,990.90.

The recent acquisition, according to BitInfoCharts, was the purchase of 2,700 Bitcoins to up its holding to 118,017 BTC.

This brought the value of the whale’s Bitcoin holdings to $6 billion.

READ ALSO: Bitcoin investors lose $193.13bn, as Omicron restrictions fail to change crypto sentiment

The whale’s purchase, which could be considered as a support for the declining asset, did little to push it out of the red zone.

The asset’s value dropped by 1.09 percent on Wednesday as sell pressure persists in the market.

Bitcoin traded at $50,432 after hitting its highest value of $51,221.7 in 24hours.

Since hitting its all-time high in November, Bitcoin’s value has gone down by 26.9 percent looking at its current price, losing $18,558 in the last three weeks.

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